Analysis of the Law of the Republic of Armenia on Joint Stock Companies

Analysis of the Law of the Republic of Armenia on Joint Stock Companies. Davit Karapetyan and Gregory Maassen.

The purpose of this document is to identify deficiencies of the LJSC and, where appropriate, suggest possible solutions. It is not a full analysis of the provisions of the LJSC and is intended to be an invitation for discussion on the improvement of Armenian legislation on JSCs.

This document intends to illustrate not only inconsistencies of the LJSC with the CC, but also reflect on issues that could be regulated by the LJSC. As a legislative technique issue, it is possible to resolve this problem in two ways: (1) by amending the existing LJSC or (2) by drafting a new Law.

This document was drafted in 2000 in preparation of the the Armenian Law on Joint Stock Companies which came into force in 2001.

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Maassen, G.F. (2002). An International Comparison of Corporate Governance Models. A Study on the Formal Independence and Convergence of One-Tier and Two-Tier Corporate Boards of Directors in the United States of America, the United Kingdom and the Netherlands. Amsterdam: Spencer Stuart Executive Search.